APX Will Launch the Fourth Epoch of King of Degens Trading Competition
Dear APX Users,
APX will launch the fourth epoch of the King of Degens Trading Competition on 04 Dec 2023. In this Epoch, we have extended the activity period to 14 days. Also, we have added adjustment coefficient to the trading volume on APX to support loyal users using our platform.
Traders who fulfill the weekly trading volume criteria and achieve the highest realized PnL (excluding trading fee) will win APX tokens. These tokens are purchased from the secondary market to reward users which will not increase APX circulating supply.
To qualify for the competition, traders can only trade Degen and classic mode (excluding forex) perpetual pairs on BNB Chain V2 (Check out this doc for more information on Degen Mode).
Activity Period
04 Dec 2023, 00:00 (UTC) — 17 Dec 2023, 23:59 (UTC)
Activity Rule
- Only realized PnL (excluding trading fee) from trading Degen and classic mode (exclude forex) perpetual pairs on BNB Chain V2 are counted toward your weekly accumulated realized PnL (excluding trading fee).
- You can choose to trade via APX platform or APX dApps on supported Web3 wallets.
Adjustment coefficient
Users who trade on APX will have a more attractive calculation of trading volume with a coefficient of 1.5 as compared to trading on APX partner brokers’ platforms with a coefficient of 1.
For example, a user has a trading volume of 1,000,000USD each on APX and PancakeSwap respectively. The total weighted trading volume will be :
1,000,000*1.5 + 1,000,000= 2,500,000USD
Reward Structure
- Only one trader who rank 1st with the highest weekly realized PnL (excluding trading fee) and also fulfilling more than 120 million USD trading volume will win 30,000 USDT worth of APX.
- The 2nd and 3rd traders with the highest weekly realized PnL (excluding trading fee) respectively and also fulfilling more than 120 million USD trading volume will be placed in Tier 2. They will share 6,000 USDT worth of APX. Each trader will receive 3,000 USDT worth of APX.
- In the event that there are no users who fulfill tier 1 and 2 trading criteria, 50% of 6,000 USDT worth of APX will be distributed equally to the top 3 traders with the highest weekly realized PnL (excluding trading fee). This means each user will receive 1,000 USDT worth of APX.
Reward Distribution
Rewards will be distributed to the winners’ wallet addresses within 7 working days after the end of each epoch.
Terms & Conditions
- Only trades on Degen and classic mode (excluding forex) pairs via BNB Chain V2 are counted toward users’ weekly trading volume and realised PnL (excluding trading fee).
- Only participants who meet all the requirements will be eligible for the rewards
- APX reserves the right to disqualify trades that are deemed to be wash trades, displaying attributes of market manipulation, bulk-account registrations to farm additional bonuses or any other attempts at fraud.
- APX reserves the right to cancel or amend any Activity or Activity Rules at our sole discretion.
- APX reserves the right of final interpretation of this activity.
Risk Warning: Crypto futures trading carries a substantial risk. All trading activities are done at your discretion and at your own risk. The information here should not be regarded as financial or investment advice from APX. APX will not be liable for any loss that might arise from your use of APX.
